Middle East ETF News Older than One Year
United Arab Emirates: Economic Outlook-October 2018
October 3, 2018--Real GDP growth in the UAE is estimated to have slowed considerably from 3.0 percent in 2016 to 0.8 percent in 2017.
The 2.5 percent contraction in hydrocarbon GDP was offset by non-hydrocarbon GDP growth of 1.9 percent. Petroleum production fell by 3.5 percent, and real growth in services dropped by 0.5 pp (real estate growth fell by 4.2 percent). On the demand side, a contraction in private consumption and slowdown in gross fixed investment were offset by a marked rebound in government consumption compared to 2016.
Real GDP growth is projected to rise to 2 percent in 2018 driven by a revised OPEC+ deal resulting in increased oil production and by a boost in the non-oil sector.
view the World Bank UAE's Economic Outlook-October 2018 report
Source: World Bank
GCC equities review: Emerging markets worries weaken Egypt's index
October 3, 2018--Weak emerging markets (EM) performance weighed on investor sentiment during the month of September, with the MSCI Emerging Markets index down more than 9 percent since the start of the year.
Markets in the Gulf Cooperation Council (GCC) area started the month mainly lower, but recovered much of the declines in the second half of September as a surge in oil prices helped most Gulf bourses to close out the month in positive territory.
Source: Zawya
Mideast Stocks: Most Gulf markets inch up, Egypt slips on emerging market slump
October 3, 2018--Most major Middle Eastern stock markets rose modestly on Wednesday, while real estate stocks continued to weigh on Dubai and Egypt's blue-chip index reflected emerging market worries.
The Dubai index closed 0.8 percent lower, pressured by real estate and bank stocks.
Source: Zawya.com
Saudi Arabia's Economic Outlook-October 2018
October 3, 2018--The Saudi Arabian economy is recovering from a mild contraction in 2017, driven largely by higher oil production and rising consumer spending. Saudi crude oil production reached 10.4 million barrels per day (mbpd) in June 2018, its highest level since December 2016, just before the OPEC+ agreement for limiting production.
Consumer spending is on the rise, with point of sale transactions up 6.8 percent year-on-year in June. Non-oil exports also registered a marked increase of 26 percent year-on-year in April 2018 (latest available).
GDP is projected to grow by around 2 percent in 2018-19, driven by higher oil production after the expiration of OPEC+ agreement, greater non-oil exports, and brisk domestic demand.
view the World Bank Saudi Arabia's Economic Outlook-October 2018 report
Source: World Bank
Modest Rebound Continues in Middle East and North Africa But New Sources of Growth and Job Creation Needed
October 3, 2018--New World Bank report forecasts growth to reach 2.8% by 2020, while calling for a regional push toward a new digital economy that would generate higher levels of growth.
Growth in the Middle East and North Africa (MENA) region is projected to rebound to an average of 2% in 2018, up from an average 1.4% in 2017 according to a new World Bank report.
The modest rebound in growth is driven mostly by the recent rise in oil prices, which has benefitted the region’s oil exporters while putting pressure on the budgets of oil importers. The rebound also reflects the impact of modest reforms and stabilization efforts undertaken in some countries in the region. The slow pace of growth, however, will not generate enough jobs for the region's large youth population. New drivers of growth are needed to reach the level of job creation required.
Source: World Bank
Egypt's Economic Outlook-October 2018
Latest Issue: October 2018
October 3, 2018--Sustained and accelerating growth provides evidence of an expansionary fiscal consolidation in a context of a competitive exchange rate and strong supply response in the energy sector to removal of distortions.
Real GDP grew at 5.3 percent in fiscal year (FY) 2018 (July to June), compared to 4.2 percent in the previous year. The pickup is driven by public and private investments and private consumption.
view the World Bank Egypt's Economic Outlook-October 2018
Source: World Bank
Mideast Stocks: Saudi gains on oil price rally, state spending boost
September 30, 2018--Saudi shares rose 1.3 percent on Sunday to their highest close in more than a month, fueled by an oil price rally and the kingdom's plans to boost state spending.
Source: Zawya.com
Mideast Stocks: Kuwait slides on day of FTSE entry, DSI continues to hurt Dubai
September 24, 2018-- Gulf stocks opened in negative territory on Monday, mirroring a slide in Asian shares after China's decision to cancel talks with the United States increased concerns about a protracted trade war.
Source: Zawya.com
Mideast Stocks: Trade concerns weigh on Dubai DP World; Orascom Investment shines in Egypt
September 24, 2018--Gulf stocks traded in negative territory on Monday, mirroring a dip in global market as concerns increased over a trade row between the United States and China.
In Dubai, where the index shed 0.3 percent, contractor Drake and Scull International (DSI) continued to weigh on the index.
Source: Zawya.com
UAE real estate shares end lower on Monday, despite positive visa news
September 17, 2018--Shares continue downward trend despite UAE government announcing five-year visa proposals for retiring expats.
Source: Zawya.com
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